Canada Student Visa: IRCC raises cost-of-living requirement again; effective from September

Study Visa Canada: Starting September 1, 2025, international students applying for a Canada study permit will have to show more money in their bank accounts to prove they can afford to live in the country.

The Canadian government has raised the cost-of-living financial requirement to reflect the country’s current living expenses; the minimum amount for a single student has gone up by CAD 2,260, or roughly Rs 1.42 lakh as per today’s CAD to INR conversion rates.

This change was announced by Immigration, Refugees and Citizenship Canada (IRCC) and is based on the Low-Income Cut-Off (LICO) – the minimum income needed to live without serious financial hardship.

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Canada Student Visa Requirements: New cost-of-living amounts

The revised amounts that students must have to be eligible for a Canada visa are given below. Single students going alone have to show they have Rs 14.40 lakh, up from Rs 12.98 lakh till August 31. These figures are as per today’s CAD-to-INR conversion rates.

The increase is sharper for those bringing family members. That said, these amounts are for locations other than those in Quebec.

Canada Study Visa 2025: Cost-of-living requirements

These figures reflect the minimum funds required for living expenses in addition to tuition and travel costs. The Canada study visa’s cost-of-living expense requirement was doubled from last year. Until December 31, 2023, international students applying for study permits in Canada were required to show proof of CAD 10,000 to cover their living expenses.

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IRCC Canada preventing financial trouble

As per IRCC, the goal is to prevent international students from falling into financial trouble after arriving in Canada. The previous amount no longer reflects the real cost of living in Canadian cities — especially in expensive areas like Toronto and Vancouver. The cost-of-living crisis also led to the country capping the number of international students it would let in each year.

Many students have been struggling with issues like high rent, food insecurity, and lack of affordable housing, a situation which led to protests last year.

As per the latest data from the IRCC, the number of Indians going to study in Canada dropped from 6,81,155 in 2023 to 5,16,275 in 2024. The first quarter of 2025 (January, February, March) also showed a decline of over 30% from the first quarter of last year. That said, Indians form the largest contingent of international students in Canada.